Whether flipping houses or launching your next rehab project, private money lender, Rehab Financial can deliver the funds you need! Rehab Financial Group provides rehab loans for qualified real estate investors requiring capital to purchase and rehab investment properties.
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The value of the collateral is more important than your financial position. Hard money loans are generally short-term loans, lasting from one to five years. You wouldn’t want to keep them much longer than that anyway, because interest rates for hard money are generally higher than they are for traditional loans.
Interested in getting a hard money loan? Find out if you should get one, how to find one, and alternatives to hard money loans on LendingTree.
Hard Money Loan to Value Ratios. The loan amount the hard money lender is able to lend is determined by the ratio of loan amount divided by the value of property. This is known as the loan to value (LTV). Many hard money lenders will lend up to 65 – 75% of the current value of the property.
Hard money loans are usually funded by an investor or a group of investors. Hard money borrowers secure their loans through equity rather than creditworthiness. This is why these types of loans are also referred to as equity-based loans. Instead of borrowers submitting financial documents and going through credit checks,
“Contrary to what may seem intuitive, more contractors fail and default on construction projects when the economy is in the recovery phase because that’s when they take on too much work, and then.
HARD MONEY BANKERS is a full service and self-funded private/hard money lending company providing fast and flexible financing for residential and commercial investment real estate deals. We are currently lending in Maryland, Washington DC, Virginia, Pennsylvania.
You need to find a hard money lender that provides direct loans in your state. The last thing you want to do is find a company that fits your needs. Only to submit information and find out they don’t provide funding in your state. With our list of private money lenders we break down which states each lender provides financing in.